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Dec-2024
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Overview
Market Insights Snapshot
In the realm of cannabis concentrates, Mile High Dabs has experienced fluctuating performance across various states. In Colorado, the brand saw a significant dip in rankings from September to November 2024, dropping from 23rd to 39th place, before recovering slightly to 27th in December. This movement is indicative of a challenging market where Mile High Dabs struggled to maintain its foothold amid competitive pressures. While the brand was able to improve its standing by the year's end, the fluctuations highlight the volatility it faces in this category. The absence from the top 30 in November serves as a wake-up call for the brand to reassess its strategy in the state.
Interestingly, the sales data reveals a downward trend in revenue from September to November, with a slight recovery in December. This mirrors the ranking changes and suggests that Mile High Dabs may need to innovate or adjust its offerings to regain and sustain a higher market position. The brand's performance in other states is not detailed here, but the data from Colorado provides a crucial insight into its current challenges and opportunities. As the brand evaluates its strategies, understanding these market dynamics will be essential for future growth and stability in the concentrates category.
Competitive Landscape
In the competitive landscape of concentrates in Colorado, Mile High Dabs has experienced fluctuating rankings and sales, indicating a challenging market position. From September to December 2024, Mile High Dabs saw a decline in rank, dropping from 23rd to 27th, with a notable dip in October and November where it fell out of the top 30. This decline coincides with a decrease in sales, highlighting potential challenges in maintaining market share. Meanwhile, competitors like Nuhi and 14er Gardens have shown resilience, with Nuhi improving its rank from 20th to 18th in October before slipping out of the top 20 in December, and 14er Gardens climbing to 17th in November. These competitors have managed to capture consumer interest even as Mile High Dabs struggled, suggesting the need for strategic adjustments to regain competitive footing in this dynamic market.
Notable Products
In December 2024, Punch Breath Wax (1g) emerged as the top-performing product for Mile High Dabs, leading the sales chart with a notable figure of 1,842 units sold. Tropicanna Banana Wax (1g) followed closely behind in second place, maintaining its position as a strong contender in the concentrates category. Coffee Creamer Wax (1g) held steady in third place, consistent with its ranking from November 2024. Purple Romulan Wax (1g) experienced a slight drop, moving from second place in November to tie for third in December. Gelato Cake Wax (1g) entered the rankings in December, securing the fourth position, indicating a positive reception in its debut month.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
